bluecorner.co.uk

eadesj · 13 January 2006 at 2:21PM

Does anyone have any experience of using a Bluecorner card? We're looking at it for our 15 year old daughter who doesn't want to carry cash but wants to buy on the high street and on line?

grumbler · 13 January 2006 at 3:03PM

The link is: http://bluecorner.co.uk/

Prepaid Card Purchase Fee £9.95

Upgrade To Other Card Issued By Us £4.99

Card Replacement Fee (Lost/Stolen/Expired) £4.99

Cancellation Fee / Refund Fee £4.99

PIN Issue / Re-Issue £1.00

ATM Cash Withdrawal Fee (when available) 85p

My 13 y.o. son has accounts with Solo and Visa Electron cards. Why pay the above fees instead of getting everithing free with Solo card (Natwest, HSBC) or Visa Electron (other banks), which in addition pay interest? I don't have experience with Solo though ... Is Maestro more widely accepted than Solo?

Rafter · 13 January 2006 at 3:29PM

Although a Maestro card may have slightly better acceptance than Solo or Electron, I agree with Grumbler that the fees do look steep on this.

I suggest that is the route to go and then get her to use your credit cards for any online retailers that don't accept Solo/Electron and she can transfer the money to you.

R.

wil06 · 24 January 2006 at 9:44AM

Rafter wrote:

Although a Maestro card may have slightly better acceptance than Solo or Electron, I agree with Grumbler that the fees do look steep on this.

I suggest that is the route to go and then get her to use your credit cards for any online retailers that don't accept Solo/Electron and she can transfer the money to you.

R.

I have purchased one of these cards for my daughter (She wanted the Smash Hits deisgn). What I really like about this card is that although the card was £9.95 to buy, it means she can use it as a budgeting tool and never go overdrawn.

What I also liked is that when she goes on a school trip either in the UK or abroad I could load money on for her immediately via the net. When she is abroad she is charged nothing 0% for foreign exchange as well.

The other fees are only for when the card expires or if you lose the card which I thought were fair and reasonable to be honest, and the benefits of her using the account outweighted the nominal fees.

I guess it's up to you to decide if it's right for you and your son or daughter.

grumbler · 24 January 2006 at 10:45AM

wil06 wrote:

...What I really like about this card is that ... she can use it as a budgeting tool and never go overdrawn.

Absolutely the same with Solo or Visa Electron ...

When she is abroad she is charged nothing 0% for foreign exchange as well.

I am 99% sure that she was charged about 2.75% plus extra for cash withdrawals. The charge was hidden in the exchange rate. You can convince me only with some real figures. However, I admit that with Solo or Visa Electron she would be charged too.

wil06 · 30 January 2006 at 1:47AM

grumbler wrote:

Absolutely the same with Solo or Visa Electron ... I am 99% sure that she was charged about 2.75% plus extra for cash withdrawals. The charge was hidden in the exchange rate. You can convince me only with some real figures. However, I admit that with Solo or Visa Electron she would be charged too.

No it isn't the same. I have 2 friends whose children have both been able to go overdrawn with their Solo and Electron accounts. The reason for this is that they don't request an authorisation each and every time a transaction is made. Because the Solo and Electron accounts are linked to a bank account, the bank then charges horrific fees for using and exceeding the overdraft.

In October of last year, Maestro brought in new guidelines which insisted that all Maestro card transactions be authorised online or be declined. Hence the difference between this and Solo or Electron.

With regards to the FOREX,the charge is not hidden in the exchange rate. I'm not sure how much you know about the credit card industry but I spent 15 years in it and now consult for a number of companies. The transaction is charged at the prevailing rate of exchange that MasterCard applies. This rate of exchange would apply to all MasterCard and Maestro transactons. The card companies then levy a fee (normally 2.75% but sometimes up to 4% (check out https://www.wutcc.co.uk for proof) on top. With the bluecorner card (whether it's for my daughter or myself) it is 0% - that means nothing, ZERO!. I checked it out before buying.

grumbler · 30 January 2006 at 11:19AM

wil06 wrote:

In October of last year, Maestro brought in new guidelines which insisted that all Maestro card transactions be authorised online or be declined. Hence the difference between this and Solo or Electron.

Isn't 'Switch'='Maestro' now? If yes or if it will be in the nearest future, does this mean that an account with Switch cannot be overdrawn and an account with Solo can be?

With regards to the FOREX,the charge is not hidden in the exchange rate. I'm not sure how much you know about the credit card industry but I spent 15 years in it and now consult for a number of companies. The transaction is charged at the prevailing rate of exchange that MasterCard applies. This rate of exchange would apply to all MasterCard and Maestro transactons. The card companies then levy a fee (normally 2.75% but sometimes up to 4%

I know a lot and would like to know more. I was always curious whether 2.65%-2.75% charge (your example with 4% is irregular) is levied buy CC companies only or Visa/Mastercard take part in this too. I think you could give me exhaustive and reliable information. Thank you in advance.

With the bluecorner card (whether it's for my daughter or myself) it is 0% - that means nothing, ZERO!. I checked it out before buying.

Again I'd prefer to see real figures instead of words. And how could you check before buying?

davisneil · 9 February 2006 at 9:30PM

i would like to mention that most solo cards have a maestro symbol on the back meaning they can be used in exactly the same way as a maestro card.

Lucymiss · 2 June 2006 at 2:20AM

Hi, regarding Bluecorner and another card I ordered 360 Money, again a Maestro card, they are not Chip and Pin?

So could be difficult to use in shops, okay for online stuff. I have the Cashplus card which is a prepaid Mastercard (soz if repeating this) I use the £1 a transaction method as I don't use it on a regular basis.:T
This I found reliable and accepted.
Hope that helps
Lucy

wil06 · 16 June 2006 at 8:42AM

Have a look at these new prepaid entries,
https://www.extremecred.com (nice card designs)
and https://www.talksportcard.co.uk

Both are chip and pin maestro cards and have lower fees than 360money.

Rafter · 16 June 2006 at 3:10PM

grumbler wrote:

I was always curious whether 2.65%-2.75% charge (your example with 4% is irregular) is levied buy CC companies only or Visa/Mastercard take part in this too. I think you could give me exhaustive and reliable information. Thank you in advance. Again I'd prefer to see real figures instead of words. And how could you check before buying?

Visa and Mastercard do charge your bank for converting overseas transactions back to £.

Not sure of the exact number, but think it is about 1%.

So nationwide lose money on every overseas transaction as they don't pass on this 'cost' to their customers.

As to whether 1% reflects Visa/Mastercards own costs, probably not, but there are some costs. Money just doesn't move between banks and currencies free of any cost at all and there is probably a bit of foreign exchange risk too if markets are particularly volatile on the day the transaction is made.

R.

bluecorner.co.uk

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